Energy Aggregation Meeting Thursday Night in Colts Neck

Learn more about Colts Neck’s plans for energy aggregation Thursday night.

A public information session on the program will be held at 7 p.m. at the Colts Neck courthouse.

In August, the Township Committee procured the services of Gabel Associates to assist with the creation of an “energy pool” of residents and business owners.

Community energy aggregation allows municipalities to negotiate a “bulk purchase” of energy on behalf of its residents. By allowing it to purchase energy in large quantities, the price very often is lower then when individuals purchase smaller quantities. All residents are automatically included in the Colts Neck Energy Aggregation program unless they have already chosen a “third party supplier.”  Residents will still receive a bill from JCP&L, which will continue distributing the energy and customers can withdraw from the program at any time without a penalty.

“It’s very safe for the end user because they can get out of this contract at any time,” said Stefano Crema of the New Jersey Community Clean Energy Aggregation group. “If they have any kind of dissatisfaction, they can just say ‘good bye,’ I’m going back to the utility as my electricity supplier or find my own third party supplier, and they can do it without any penalty.”

In August, township officials said residents could save between 5 and 15 percent on energy bills.

Crema and his group approached the township about creating an energy buying pool. He said the hopes the process can be completed by April.

“It’s a great opportunity to offer a service to the residents without any cost to the town,” said Crema. “We’re facilitating for them. We dealing more with the education and we are dealing more with the businesses.”

For answers to frequently asked questions, visit the township FAQs section.

For comments from Mayor Michael D. Fitzgerald, click here.